Face Currency Racket

8/8/2019 Face Currency Racket

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ETHICS.Ethics, is reverence for life. This is what gives us the

fundamental principle of morality , namely, that good

consists in maintaining, promoting, and enhancing

life, and that destroying, injuring, and limiting life areevil.

Presented by:

Divya Dilbaghi

Tushar LambaIsha Dahiya

Apsha Gupta

Avneet Kochar

Debabrata chakraborty

Anubha Sehgal


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POWER OF MONEY


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CONTENT

DEFINITION

HOW TO DIFFERENTIATE

RACKETS

SOURCES IMPACT ON INDIAN ECONOMY

GLOBAL IMPACT

PROBLEM WITH NODAL AGENCIES

NEW MEASURES

REAL PICTURE

CONCLUSION


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WATCH OUT,YOU MAY BE

HOLDING A FAKE NOTE


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Counterfeit money is currencythat is produced without the legalsanction of the state orgovernment to resemble someofficial form of currency closelyenough that it may be confusedfor genuine currency. Producingor using counterfeit money is aform of fraud.


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HOW SERIOUS IS IT?

An estimated Rs 90,000 crore or 15per cent of currency in circulation in

the Indian economy is fake,smuggled

into India.

IS IT A NEW TERRORISM??


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Howto

differentiate

Sil er r i et re

wit I marksi i iand nglis arepr minent.

pr minent watermarks

Sprinkled bl e dots

500s perimposed

FakeOriginal

watermar sarenotprominent.

Hazylogo

Sprin leddotsnotvisible

Thesuperimposed

500 digitsnotvisible


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Active Zones Of Fake Money

Network In IndiaBorder districts of Rajasthan,like Barmer and

Jaisalmer.

Coastal areas of Kutch,Gujarat.Northern districts of Kerala.

Colombo-Chennai transit route.

Bangladesh border near Malda in West Bengal.

Terai region of Uttar Pradesh and Bihar.

Kashmir.


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Bhubaneswar, Dec 22 (IANS) At least five people have

been arrested in Orissas Balasore town for printing and

circulating fake Indian currency notes, police said

Monday.

The five, including a woman and her son, were held

Sunday night from a house where they were printing the

notes using printing machines and computers, police

officer A.K. Mishra told IANS over telephone.

Police seized fake currency notes of differentdenominations amounting to Rs.30,000


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Nawanshahr (Punjab), Aug 3 (IANS) Punjab Police claimed to have

busted an inter-state gang of smugglers of fake currency with

international links with the arrest of four people, including a

Nepali. Counterfeit currency notes with the face value of Rs.565,000have been recovered from their possession.

They used to bring this money from Nepal and give Rs.25,000 for

every one lakh to the main supplier.

They would further give it to other small smugglers in India at

Rs.65,000 for every one lakh, he added.These fake currency notes are of fine quality and its difficult for

the common man to tell the difference, he added.


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Ahmedabad, Aug 13

Asgar Ali Abdul Hussain Abuli, who is believed to be the main

agent of pumping counterfeit currency into the economy

having links with a Pakistan intelligence agency, was arrested

in Karachi by Gujarat Anti-Terrorist Squad and counterfeit

notes with face value of Rs 1.35 lakh were seized from him.

During the interrogation, it was found that Pakistan and

Dubai based elements, who run this racket, would send fake

currency consignment to Abuli via Nepal and subsequently he

would distribute in the network.


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Jan 3 (IANS) Five people have been arrested and

fake currency with a face value of over

Rs.100,000 seized in separate raids carried out

in two towns of Uttar Pradesh and MadhyaPradesh

Two people, including a woman, were held

with counterfeit currency notes amounting toRs.100,000 in Uttar Pradeshs Balli:


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Impact on Indian Economy

Inflation

Reduction in the value of money

Means of Warfare

Acceptability

Peoples confidence in the currency


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Source : RBI

Year Forged IndianCurrency

Notesdetected

(Numberof pieces)

NotesinCirculation

(Million pieces)

Forged IndianCurrency

Notesas % to Notesin

Circulation

No.ofForged Notesdetected

per Million Notesin

Circulation

2000-01 102687 35,704 0.000288 3

2001-02 124515 38,338 0.000326 3

2002-03 211754 37,309 0.000568 6

2003-04 205226 38,336 0.000535 5

2004-05 181928 36,984 0.000492 5

2005-06 123917 37,851 0.000327 3

2006-07 104743 39,831 0.000263 3

2007-08 195811 44,225 0.000443 4


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How fake notes fund TERRORPakistans ISI raise 1800crore annually to fund

terror operations and major chunk of this money

comes in through fake currency rackets.

Notes are printed in Pakistan and transferred to

Dubai where the money is collected and dumped

in India.

This money is transported through individuals

travelling between Dubai and India.


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THE PROBLEMFa e currency thrives as the four mainnodal agencies loo at various aspects of

the problem and do not coordinate. a)CBI

b)Directorate of Revenue Intelligence

c)Central Economic Intelligence Bureau

d)Enforcement Directorate


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Anti-Counterfeiting Measures

y Currencydetectormachines

y RBI Measures

Legal MeasuresSecurity Thread

Intaglio Printing

Watermar & Electrotype Watermar

Optically Variable In

Dual Coloured Fibres


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Present Scenario FIRs Lodged

No Centralized authority

Lack of Cooperation among the nodal agencies

Lacunae in the security measures

YEAR TOTAL NUMBER OFCASES

2001-02 934

2002-03 829

2003-04 1464

2004-05 1176

2005-06 1990

2006-07 1789

2007-08 2204

2008-2009 3559


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SO WHAT CAN A CUSTOMERDO IF HE IS TOLD THAT THE

BANKNOTE HE HASDEPOSITED WITH THE BANK

IS FAKE ??


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Bank issupposed to impound the fake note and stamp:

COUNTERFIET BANK NOTE IMPOUNDED.

Acknowledgement receipt after stamping is given to thecustomer .

This fakecurrencyis furthar provided to thelocalpoliceafter filling an FIR.

Copy of FIR to besentto the Forged Banknote VigilanceCell.

All branches are also supposed to havetheultravioletlamp.


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CONCLUSIONThe crime ofFAKE CURRENCY continues to present a potential

danger to our National Economy and Financial Losses to a consumer

at large.

Therefore ,its High Time to Wake UpThe way we in India can tackle this problem is to exercise

Vigilence,on

part of every citizen,but If all are angels ,then no govrernamentwould be

Necessary

Increased sophistication of fake currency highlights the fact thatSecurity measures employed by RBI need to be scaled up.

This battle against FAKE CURRENCY is not only for the agencies

Alone but also for the Vigilent and Active ones.

Only then INDIA can be a country with ZERO COUNTERFEIT.


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Documents

Face Currency Racket